Due Diligence Underwriter

WHO WE ARE...

Maxwell was founded in 2015 by homebuyers who were shocked by the complexity and inefficiencies of the mortgage process for borrowers and lending teams alike. We’ve created a platform that has not only streamlined the process and made it more efficient - closing loans 45%+ faster - but has made mortgages more accessible in the process. Our mission is clear: democratize mortgages by helping lenders work more efficiently and stay compliant while eliminating the barrier to entry and the stress for the borrower. We are a company focused on a supportive, diverse, and inclusive culture - live through our values of Rigor, Ownership, Curiosity, Kindness, and "Straight Up" - to bring equality to the mortgage process and spread financial empowerment. Intrigued? Read on and say hello! 

JOB SUMMARY: 

As the Due Diligence Underwriter at Maxwell, you enjoy digging in to ensure loan files are accurate and compliant with investor guidelines. You will review mortgage loans files in accordance with credit, compliance and valuation guidelines. The review includes Non-QM, HEI/HEA, Bridge Loans, (Fix & Flip), Conventional, Jumbo, Correspondent, and business purpose loan packages for both purchases and refinances.

WHO YOU ARE...

• Ability to analyze complex transactions and identify errors
• Strong attention to detail 
• Ability to properly calculate income across a variety of earning types from wage earners to business/self-employed income. 
• Strong appraisal review skills
• Excellent analytical & communication skills
• Strong ability to perform reviews for a wide range of investors
• Ability to read and apply investors guidelines to loan reviews. 
• Proficiency in pipeline management with ability to multitask in a high-volume environment
• Ability to contribute and work in a team environment
• Ability to work independently

WHAT YOU’LL BE DOING…

• Review Mortgage loan files to ensure accuracy of information and verify presence of all required documents.
• Performing due diligence review of the residential mortgage loan application and documentation as submitted to ensure loans meet specific investor/product guidelines and AUS requirements as applicable. 
• Analyze borrower’s credit profile, compliance, collateral, and capacity to repay the proposed mortgage obligation including accurately calculating income and ensuring the borrower’s ability to repay
• Properly calculate and analyze loan-to-value ratios, and debt carried.
• Analyze purchase contracts, title commitments, and other loan pertinent documentation.
• Enter review results into company’s proprietary software
• Executing risk analysis and make decisions regarding deficiencies identified during the review process and recommend resolution to deficiency
• Stay current on all agency, state, and multiple investor guidelines
• Participate in on-going training as industry evolves
• Manage time efficiently and prioritize workloads to meet the minimum daily production goals plus clearing QA feedback and perform within department audit standards.
• Adhere to the company's “Core Values”
• Other duties as assigned by manager

IDEALLY, YOU’LL HAVE...

• 5+ years current experience in underwriting, preferably with prior experience in Quality Control.
• Minimum 1-year Due Diligence experience at a mortgage lending institution.
• Familiarity with best practices for post-close quality control on newly and seasoned originated mortgages
• Strong knowledge of Fannie Mae/Freddie Mac guidelines, QM/ATR
• Proficiency in Non-QM Loan processes and requirements. 
• Ability to work with multiple investor guidelines and overlays
• Deep understanding of DSCR/business purposes loans.

WHAT WE OFFER YOU

An opportunity